StockNews.AI
RICK
StockNews.AI
20 hrs

RCI Hospitality Holdings, Inc. INVESTIGATION: Kirby McInerney LLP Announces Investigation Into Potential Securities Fraud on behalf of Investors (RICK)

1. Kirby McInerney LLP is investigating RCI for potential legal violations. 2. Executives allegedly bribed an auditor to evade $8 million in taxes. 3. RCI shares dropped 16.11% following the indictment news. 4. Legal issues could have lasting effects on RCI's market position. 5. Investors are encouraged to seek legal advice regarding RCI securities.

3m saved
Insight
Article

FAQ

Why Very Bearish?

The indictment of RCI executives indicates serious legal challenges. Historical examples, such as Enron, show legal crises can devastate stock prices.

How important is it?

The ongoing investigation could result in substantial penalties for RCI. Shareholder confidence is likely to erode further due to legal uncertainty.

Why Long Term?

Legal investigations may take significant time, impacting RCI's reputation and financial stability. Furthermore, past incidents in corporate scandals show lingering effects post-crisis.

Related Companies

REGNNFLX
NEW YORK, Sept. 17, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against RCI Hospitality Holdings, Inc. (“RCI” or the “Company”) (NASDAQ:RICK). The investigation concerns whether the Company may have violated federal securities laws or engaged in other unlawful business practices. [LEARN MORE ABOUT THE INVESTIGATION] What Happened? On September 16, 2025, New York’s Office of the Attorney General announced the indictment of certain top executives of RCI, alleging that its investigation “revealed that RCI executives bribed an auditor with the New York Department of Taxation and Finance (DTF) to avoid paying over $8 million in sales taxes to New York City and the state from 2010 to 2024.” On this news, the price of RCI shares declined by $5.53 per share, or approximately 16.11%, from $34.32 per share on September 15, 2025 to close at $28.79 on September 16, 2025. What to Do Next? If you acquired RCI securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out the form below to discuss your rights or interests with respect to these matters without any cost to you. [CONTACT US] Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. ContactsKirby McInerney LLPThomas W. Elrod, Esq.212-371-6600https://www.kmllp.cominvestigations@kmllp.com

Related News